Ieq Capital LLC Invests $4.86 Million in Maplebear Inc. $CART

Ieq Capital LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the second quarter, HoldingsChannel reports. The institutional investor purchased 102,632 shares of the company’s stock, valued at approximately $4,860,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CART. US Bancorp DE lifted its position in shares of Maplebear by 17.0% during the fourth quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after purchasing an additional 63,666 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Maplebear by 16.5% during the first quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after purchasing an additional 221,036 shares during the last quarter. CWM LLC raised its stake in Maplebear by 1,741.4% during the fourth quarter. CWM LLC now owns 30,088 shares of the company’s stock valued at $1,353,000 after buying an additional 28,454 shares in the last quarter. Horizon Investments LLC lifted its holdings in Maplebear by 263,556.8% during the 4th quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock worth $5,218,000 after buying an additional 115,965 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Maplebear by 67.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 128,611 shares of the company’s stock worth $5,783,000 after buying an additional 51,832 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $49.83 on Monday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $51.81. The stock’s 50-day moving average is $46.61 and its two-hundred day moving average is $41.69. The stock has a market cap of $11.54 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.Maplebear’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, equities research analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CART shares. Benchmark lifted their price target on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. Cantor Fitzgerald increased their price target on Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citizens Jmp reiterated a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. Finally, Wells Fargo & Company upped their price target on Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.90.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is currently owned by insiders.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.